In this video I break down the current state of the crypto market, focusing on Bitcoin, Bitcoin dominance, and USDT dominance to determine if altcoins are ready for a comeback. By applying Elliott Wave theory to these key metrics, I analyze whether we are witnessing a genuine trend reversal or simply a corrective rally within a larger bear market structure. Video by More Crypto Online.
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Bitcoin (BTC) is trading at approximately $64,617 as of July 30, 2026, marking a +0.84% gain over the past 24 hours and continuing its monthly recovery with a +9% gain throughout July. The digital asset has demonstrated massive macro resilience, consolidating firmly around the $64,000 range despite highly volatile macro economic headwinds and geopolitical pressures.
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Bitcoin Insights Today
- Central Bank Decisions & Hawkish Split - The Federal Reserve opted to maintain its benchmark interest rate at 3.50%–3.75% during its Wednesday meeting. While keeping interest rates unchanged typically benefits risk assets like crypto, the decision carried a hawkish undertone. Three committee members dissented in favor of a rate hike, signaling internal anxieties over sticky inflation. This split decision has forced macro crypto traders into a cautious "wait-and-see" approach.
-Middle East Volatility & Tech Earnings De-Leveraging - Geopolitical tensions spiked following an exchange of ballistic missiles involving Iran. While the conflict triggered a sharp 8% jump in crude oil prices and caused heavy liquidations in traditional equity markets (with the Nasdaq hitting a 3-month low), Bitcoin proved highly resilient. Concurrently, corporate tech giants like Microsoft reporting strong AI earnings metrics helped ease systemic risk, preventing deeper drawdowns.
-Spot ETF Inflows & Corporate Activities - U.S.-listed spot Bitcoin ETFs registered a modest net inflow of $32.11 million on Wednesday, breaking a multi-day streak of consecutive outflows. On the corporate side, infrastructure firm Hyperscale Data announced it divested roughly 100 BTC (valued at $6.5 million) to directly fund an institutional AI data center in Michigan, demonstrating how mainstream companies continue to treat Bitcoin holdings as liquid operating capital.
-Technical Insights & Outlook - According to analysts from Mitrade, “Bitcoin (BTC) steadies above a key support zone on Thursday, consolidating near $64,000 after a modest rebound earlier this week.”In the near-term, Bitcoin continues to challenge its 50-day exponential moving average near $65,086. Breaking above this resistance cleanly is seen by technical traders as a vital gateway to push back toward longer-term macro trendlines, while long-term institutional forecasts from firms like Standard Chartered continue to eye a target of $100,000 before the end of 2026.
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